India to be largest passenger car market by 2030, EVs to be a preferred choice of transport: NITI Aayog

India to be largest passenger car market by 2030, EVs to be a preferred choice of transport: NITI Aayog

Niti Aayog CEO Amitabh Kant had opined that India is set to become the largest passenger car market by 2030, while adding that electric vehicles will be a preferred choice of transport. And hence, the country needs to overcome the challenge of being able to battery-charge all types of vehicles.

India will go on to become the biggest passenger car market by 2030, NITI Aayog CEO Amitabh Kant said on Wednesday. Addressing an event ahead of the two-day Global Mobility Summit beginning Friday, he said that India's vehicular transportation scenario was set to "undergo a sea change" by the next decade with e-mobility emerging as the preferred mode of transport. Kant said that two-wheelers account for 76 per cent of all vehicles sold in India at present, which consumed 64 per cent of fuel and accounted for 30 per cent of pollution as compared with 5 per cent of pollution by three-wheelers.

"In addition, 70 per cent of goods transportation is done on lorries which too are major contributors to vehicular pollution," he said. The NITI Aayog CEO said that the challenge for the country was to battery-charge all modes of road transport, and therefore, it was imperative to substitute fossil fuels with cleaner alternative fuels for both inter- and intra-city movement of vehicles.

He said that businesses should seize opportunities set to emerge from e-mobility and sharing of vehicles space.

Furthermore, Kant went on to say that electric-mobility will be a preferred mode of road transport in India by next decade and the challenge for the country was to battery-charge all types of vehicles.

Kant, at an event organised by Ficci, said that at present 76 per cent of all vehicles sold are 2-wheelers, which consumed 64 per cent of fuel and accounted for 30 per cent of pollution, while 3-wheelers caused 5 per cent of pollution.

"In addition, 70 per cent of goods transportation was on lorries, which too were a major contributor to vehicular pollution.

"The challenge for the country was to battery-charge all modes of road transport vehicles, and therefore, it was imperative to substitute fossil fuels with cleaner alternative fuels for both inter-city and intra-city movement of vehicles," Kant said.

Businesses need to seize the opportunities that are set to emerge from the e-mobility and sharing of vehicles space, and rise to the challenge of R&D for developing technologies for harnessing renewables and efficient battery storage, the Niti Aayog CEO said.